US stocks jumped on Wednesday after Democrats won control of both chambers of Congress in a seismic midterm election, paving the way for a divided government.
The Dow Jones Industrial Average (^DJI) rose 2.8%, or around 1,400 points, while the S&P 500 (^GSPC) climbed 1.7%. The Nasdaq Composite (^IXIC) traded up by 1.8% as Apple (AAPL) and Microsoft (MSFT) stocks touched record highs.
Markets swiftly repriced a Democratic sweep of the House and Senate — and the potential for ballot measures and newly elected officials to restrict data center construction. Chip stocks, including Nvidia (NVDA) and Micron (MU), fell more than 1%. Meanwhile, other parts of the tech sector offset some of those losses with Apple (AAPL) and Microsoft (MSFT) each hitting all-time highs.
Investors will also be watching for policy actions on housing and pharmaceuticals in the aftermath of the election.
As Yahoo Finance's Jared Blikre pointed out on Tuesday, midterm elections have a history of shaping stock performance in the near term but don't tend to move markets much over the long term.
#midterm #highs
The Dow Jones Industrial Average (^DJI) rose 2.8%, or around 1,400 points, while the S&P 500 (^GSPC) climbed 1.7%. The Nasdaq Composite (^IXIC) traded up by 1.8% as Apple (AAPL) and Microsoft (MSFT) stocks touched record highs.
Markets swiftly repriced a Democratic sweep of the House and Senate — and the potential for ballot measures and newly elected officials to restrict data center construction. Chip stocks, including Nvidia (NVDA) and Micron (MU), fell more than 1%. Meanwhile, other parts of the tech sector offset some of those losses with Apple (AAPL) and Microsoft (MSFT) each hitting all-time highs.
Investors will also be watching for policy actions on housing and pharmaceuticals in the aftermath of the election.
As Yahoo Finance's Jared Blikre pointed out on Tuesday, midterm elections have a history of shaping stock performance in the near term but don't tend to move markets much over the long term.
#midterm #highs
9 hours ago
